Gunvor, Adnoc Said to Be Shortlisted for Shell South Africa Unit

Abu Dhabi National Oil Co.and Swiss commodities trading firm Gunvorare among companies that have been shortlisted to buy Shell Plc’s downstream assets in South Africa, according to people familiar with the matter.

The two companies are strong contenders for the assets that are valued at about $1 billion, said the people, who asked not to be identified as the information is private. Previous potential bidders including Trafigura’s Puma Energy, Sasol Ltd. and South Africa’s PetroSA are no longer in the running, two of the people said.

“While Adnoc Distribution regularly reviews opportunities for domestic and international ...